Stockholders' equity at the beginning of the year for ATLAS Inc. was $390,000, while its liabilities totaled $230,000. During the year its assets increased by $75,000; its liabilities decreased by $50,000. Which of these is stockholders' equity at the end of the year for ATLAS Inc.?
A) $107,000
B) $98,000
C) $415,000
D) $515,000

Question

Quizplus · Accepted Answer

Stockholders' Equity (end of year) = Beginning of year Stockholders' Equity + Change in Assets - Change in Liabilities during year = $390,000 + $75,000 - (-$50,000) = $515,000

Stockholders' Equity at the Beginning of the Year for ATLAS